Megatrends

The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.

Convenience Stores in Bulgaria

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Executive Summary

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PROSPECTS

Shrinking consumer base presents challenges to convenience stores

Convenience stores saw minimal current value growth in 2019, after a period of ongoing decline due to the contraction of its core consumer base. Convenience stores are present in two form in Bulgaria - large, loosely organised chains and small establishments present in just a few towns and villages.

The impact of urbanisation and emigration on rural communities is placing growing pressure on convenience store operators to build their presence in urban areas. However, these players face intense competition in the urban environment.

Leading players rethink their strategies

Leading convenience stores players are rethinking their strategies in light of the growing impact of the health and wellness trend and the trend towards naturalness. Towards the end of the review period, KOOP Targovia i Turizam AD launched its BIO COOP store in the capital city of Sofia, as part of the Central Cooperative Union.

COMPETITIVE LANDSCAPE

KOOP Targovia i Turizam leads with Koop chain

Convenience stores remains highly fragmented. Leading player KOOP Targovia i Turizam maintained its lead through the Koop brand, some way ahead of closest competitor, CBA Bulgaria AD and its CBA chained convenience stores.

Independent small grocers represents obstacle to growth of convenience stores

As it stands, independent small grocers represents a significant competitive obstacle to convenience stores, with outlets enjoying well-established, widespread presence in urban areas that are typically centres of convenience store development. Independent small grocers tend to enjoy strong consumer loyalty.

Fortunes vary for convenience stores players

CBA lost significant share to KOOP Targovia i Turizam’s Koop chain in 2018 and again in 2019, due to a decline in the number of outlets operating under the CBA brand name. Between 2017 and 2019, CBA closed down 14 of its stores.

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